The term “tax benefit” refers to any tax law that helps you reduce your tax liability. Benefits range from deductions and tax credits to exclusions and exemptions. They cover various areas, including programs for families, education, employees, and natural disasters. In Trinidad and Tobago, there are several tax benefits and

As the financial year comes to a close, it’s crucial for businesses to start preparing the budget for the upcoming year. This can be a challenging task, especially with the unique needs of each business type. If you don’t have an accounting background, you might find it even more tricky.

In Trinidad and Tobago, Value Added Tax (VAT) is a tax on goods and services. VAT is added from the initial production of goods and services to the point of sale. The amount of VAT the user pays is based on the cost of the product minus any costs of

In today’s competitive business environment, tax planning goes beyond mere compliance; it becomes a strategic tool for enhancing profitability and ensuring sustainable growth. Effective tax planning is a vital component of financial management for business owners, influencing key decisions and shaping the path to growth and success.   The Impact

There’s no escaping the fact that 2024 may just be a crucial and challenging year due to the previous activities in 2023. However, once you focus and create a financial plan for the upcoming year you should be able to deal with what 2024 has to offer. Yet, while there’s